12:32 - 12.02.2024

---

February 12, Fineko/abc.az. The total profit of the U.S. banking sector in the fourth quarter of 2023 amounted to $38 billion (about 45% less than a year ago), ABC.AZ reports with reference to research organization BankRegData.

This is the largest decrease in gross quarterly profit since 2020.

The researchers explain this by the fact that in the last quarter of the year, banks carried out a one-time write-off of expenses related to the crisis of U.S. regional banks at the beginning of the year.

Government spending by the largest U.S. banks on deposits amounted to $16 billion.